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Video: What is a Stock Split?
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Saba Capital Income & Opportunities Fund is registered as a diversified, closed-end, management investment company. The Trust's investment objective is to provide investors with as high a level of current income as is consistent with the preservation of capital. According to our BRW split history records, Saba Capital Income & Opportunities Fund Sbi has had 3 splits. | |
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Saba Capital Income & Opportunities Fund Sbi (BRW) has 3 splits in our BRW split history database. The first split for BRW took place on May 23, 1989. This was a 2 for 1
split, meaning for each share of BRW owned pre-split, the shareholder now owned 2 shares. For example, a 1000 share position pre-split, became a 2000 share position following the split. BRW's second split took place on June 02, 1997. This was a 2 for 1
split, meaning for each share of BRW owned pre-split, the shareholder now owned 2 shares. For example, a 2000 share position pre-split, became a 4000 share position following the split. BRW's third split took place on May 20, 2022. This was a 1 for 2 reverse split, meaning for each 2 shares of BRW owned pre-split, the shareholder now owned 1 share. For example, a 4000 share position pre-split, became a 2000 share position following the split.
When a company such as Saba Capital Income & Opportunities Fund Sbi splits its shares, the market capitalization before and after the split takes place remains stable, meaning the shareholder now owns more shares but each are valued at a lower price per share. Often, however, a lower priced stock on a per-share basis can attract a wider range of buyers. If that increased demand causes the share price to appreciate, then the total market capitalization rises post-split. This does not always happen, however, often depending on the underlying fundamentals of the business. When a company such as Saba Capital Income & Opportunities Fund Sbi conducts a reverse share split, it is usually because shares have fallen to a lower per-share pricepoint than the company would like. This can be important because, for example, certain types of mutual funds might have a limit governing which stocks they may buy, based upon per-share price. The $5 and $10 pricepoints tend to be important in this regard. Stock exchanges also tend to look at per-share price, setting a lower limit for listing eligibility. So when a company does a reverse split, it is looking mathematically at the market capitalization before and after the reverse split takes place, and concluding that if the market capitilization remains stable, the reduced share count should result in a higher price per share.
Looking at the BRW split history from start to finish, an original position size of 1000 shares would have turned into 2000 today. Below, we examine the compound annual growth rate — CAGR for short — of an investment into Saba Capital Income & Opportunities Fund Sbi shares, starting with a $10,000 purchase of BRW, presented on a split-history-adjusted basis factoring in the complete BRW split history.
Growth of $10,000.00
With Dividends Reinvested
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Start date: |
04/28/2014 |
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End date: |
04/24/2024 |
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Start price/share: |
$11.56 |
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End price/share: |
$7.14 |
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Starting shares: |
865.05 |
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Ending shares: |
1,852.71 |
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Dividends reinvested/share: |
$7.03 |
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Total return: |
32.28% |
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Average Annual Total Return: |
2.84% |
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Starting investment: |
$10,000.00 |
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Ending investment: |
$13,230.84 |
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Years: |
10.00 |
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Growth of $10,000.00
Without Dividends Reinvested
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Start date: |
04/28/2014 |
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End date: |
04/24/2024 |
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Start price/share: |
$11.56 |
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End price/share: |
$7.14 |
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Dividends collected/share: |
$7.03 |
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Total return: |
22.57% |
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Average Annual Total Return: |
2.06% |
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Starting investment: |
$10,000.00 |
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Ending investment: |
$12,261.15 |
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Years: |
10.00 |
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Date |
Ratio |
05/23/1989 | 2 for 1
| 06/02/1997 | 2 for 1
| 05/20/2022 | 1 for 2 |
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